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Price Gouging?
#13536905
04/28/20 01:07 AM
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Joined: May 2008
Posts: 3,803
donothin
OP
TFF Team Angler
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OP
TFF Team Angler
Joined: May 2008
Posts: 3,803 |
We are a free market or free enterprise system so price is a function of supply and demand for the most part. So let's assume you produce something where the margins are really thin, sometime making a profit other times not so much. Something happens, some kind of natural disaster and for a change the demand for your product significantly increases. For a time, you have an opportunity to make a nice but legitimate (whatever that is) profit by increasing the price of your product. Most would consider it gouging if you increased the price very much over what it was pre-disaster. Should you be able to increase the price to off set the times when you sold at a loss?
Thoughts?
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Re: Price Gouging?
[Re: donothin]
#13536907
04/28/20 01:10 AM
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Joined: Jul 2007
Posts: 3,996
tech
TFF Team Angler
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TFF Team Angler
Joined: Jul 2007
Posts: 3,996 |
no, taking advantage of someones misfortunes is not tolerated in my book
Trust your own instinct. Your mistakes might as well be your own, instead of someone elses.
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Re: Price Gouging?
[Re: donothin]
#13536908
04/28/20 01:11 AM
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Joined: Jun 2009
Posts: 12,607
Curt0407
TFF Guru
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TFF Guru
Joined: Jun 2009
Posts: 12,607 |
If it starts costing you more to manufacture/sell your product due to supply issues, raise your prices.
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Re: Price Gouging?
[Re: donothin]
#13536912
04/28/20 01:13 AM
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Joined: Oct 2012
Posts: 25,233
ReelBusy
TFF Guru
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TFF Guru
Joined: Oct 2012
Posts: 25,233 |
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways?
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Re: Price Gouging?
[Re: ReelBusy]
#13536919
04/28/20 01:18 AM
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Joined: May 2007
Posts: 39,997
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 39,997 |
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways? I'm not ok with cheap gas and oil. No Texan should be.
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Re: Price Gouging?
[Re: tech]
#13536920
04/28/20 01:19 AM
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Joined: May 2008
Posts: 3,803
donothin
OP
TFF Team Angler
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OP
TFF Team Angler
Joined: May 2008
Posts: 3,803 |
no, taking advantage of someones misfortunes is not tolerated in my book How about the poor guy who was having to sell at less than cost of production because of oversupply?
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Re: Price Gouging?
[Re: donothin]
#13536922
04/28/20 01:19 AM
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Joined: Jan 2012
Posts: 15,724
ko bass attack 27
TFF Guru
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TFF Guru
Joined: Jan 2012
Posts: 15,724 |
Supply and demand, you can only charge what the market will allow.
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Re: Price Gouging?
[Re: WAWI]
#13536930
04/28/20 01:22 AM
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Joined: May 2008
Posts: 3,803
donothin
OP
TFF Team Angler
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OP
TFF Team Angler
Joined: May 2008
Posts: 3,803 |
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways? I'm not ok with cheap gas and oil. No Texan should be. But should we put constraints on the price when supply is short.
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Re: Price Gouging?
[Re: ko bass attack 27]
#13536932
04/28/20 01:23 AM
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Joined: May 2008
Posts: 3,803
donothin
OP
TFF Team Angler
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OP
TFF Team Angler
Joined: May 2008
Posts: 3,803 |
Supply and demand, you can only charge what the market will allow. Works good when you have large representation on the production side, but what about when production is controlled by very few and they secretly discuss what prices should be?
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Re: Price Gouging?
[Re: donothin]
#13536934
04/28/20 01:24 AM
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Joined: Jul 2007
Posts: 50,829
Trickster
Super Freak
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Super Freak
Joined: Jul 2007
Posts: 50,829 |
I prefer to trade crankbaits.
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Re: Price Gouging?
[Re: donothin]
#13536937
04/28/20 01:25 AM
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Joined: May 2004
Posts: 13,654
Tiltman
TFF Guru
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TFF Guru
Joined: May 2004
Posts: 13,654 |
no, taking advantage of someones misfortunes is not tolerated in my book How about the poor guy who was having to sell at less than cost of production because of oversupply? That guy isn’t much of a business man he needs to rethink his plan
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Re: Price Gouging?
[Re: donothin]
#13536947
04/28/20 01:32 AM
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Joined: Jan 2013
Posts: 7,075
Scoundrel
TFF Celebrity
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TFF Celebrity
Joined: Jan 2013
Posts: 7,075 |
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways? I'm not ok with cheap gas and oil. No Texan should be. But should we put constraints on the price when supply is short. We who on what?
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Re: Price Gouging?
[Re: donothin]
#13536950
04/28/20 01:33 AM
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Joined: Nov 2010
Posts: 12,089
Urban Fisher
TFF Guru
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TFF Guru
Joined: Nov 2010
Posts: 12,089 |
Let's act like children and ask the same question. Reason being a child may not understand the law of supply and demand. Ok, then let's ask the same question as adults. An adult would hopefully understand such a simple concept. Now let's say we have professionals that dedicated their lives and careers to study such events/things. Then let's throw in a whole new concept of a World Wide pandemic not known to modern human times (yes, they have happed in the past but not with today's modern technology of super fast access to information/misinformation). Then let's go on a fishing forum to ask these questions and expecting an actual correct answer? So to answer the question...Yes.
Jane says I've never been in love - no She don't know what it is She only knows if someone wants her
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Re: Price Gouging?
[Re: donothin]
#13536957
04/28/20 01:37 AM
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Joined: Jan 2012
Posts: 15,724
ko bass attack 27
TFF Guru
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TFF Guru
Joined: Jan 2012
Posts: 15,724 |
Supply and demand, you can only charge what the market will allow. Works good when you have large representation on the production side, but what about when production is controlled by very few and they secretly discuss what prices should be? You been looking at new Bass Boats ?
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Re: Price Gouging?
[Re: donothin]
#13536959
04/28/20 01:38 AM
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Joined: Jun 2003
Posts: 31,153
HasBen
TFF Guru
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TFF Guru
Joined: Jun 2003
Posts: 31,153 |
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways? I'm not ok with cheap gas and oil. No Texan should be. But should we put constraints on the price when supply is short. I am sure you are talking about we, the government. No, keep the government out of it.
"Nothing spoils a good story like the arrival of an eyewitness."-Mark Twain
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